Experts Predict 2018 Housing Market Trends



Increase in Home Purchases
Every industry expert whose opinions we looked at agreed: Purchase mortgage volume will increase in 2018. In fact, Michael Fratantoni, chief economist and senior vice president of research and technology of the Mortgage Bankers Association (MBA), expects purchase growth through 2020. Freddie Mac's Economic and Housing Research Group (EHRG) has predicted growth of about 2% next year in both new and existing home sales. While refinancing has been strong recently, we're now seeing a slow shift to a purchase-oriented mortgage market. Which leads us to ...

Decline in Refinancing
EHRG, Realtor Magazine, MBA, Moody's, and Fannie and Freddie are all looking for refinance activity to decline next year, although CoreLogic is estimating that 250,000 FHA mortgagees could refinance into conventional loans in 2018. This could help borrowers cut monthly payments by canceling FHA annual insurance.

EHRG does predict cash-out refinances to climb to a larger percentage of the refinance market, although EHRG and Realtor Magazine both predict refinances overall will decline to 25% of the mortgage market, the lowest percentage since 1990. Rising interest rates will contribute to the drop in refinancing, according to MBA's Fratantoni.

Rise in Interest Rates
Speaking of rising interest rates, economists at the MBA predict mortgage interest rates on 30-year fixed-rate loans to rise to 4.6% in 2018, and to more than 5% in 2019. The Federal Housing Finance Agency (FHFA) agrees that rates will hit the mid-4% range next year and mid- to upper 5% range by 2020.

Inventory Issues
Low inventory across the country will continue to remain a challenge for homebuyers in 2018. Experts state that low new housing starts and soaring prices are keeping purchase numbers down. First-time buyers and millennials are the most impacted by the lack of affordable housing. As more homeowners see the difficulties of affording a new home in this climate, they may choose to stay in their current homes longer, which will also impact inventory. Based on a recent survey, Zillow predicts that the shortage of affordable homes will also push housing prices to climb more than 4% in 2018, exacerbating the problem and forcing millennials to remain renters. 

Increase in Home Purchases

Every industry expert whose opinions we looked at agreed: Purchase mortgage volume will increase in 2018. In fact, Michael Fratantoni, chief economist and senior vice president of research and technology of the Mortgage Bankers Association (MBA), expects purchase growth through 2020. Freddie Mac's Economic and Housing Research Group (EHRG) has predicted growth of about 2% next year in both new and existing home sales. While refinancing has been strong recently, we're now seeing a slow shift to a purchase-oriented mortgage market.

Information courtesy of Steve Tedrow, Windermere Mortgage Services
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Look of the Week: Easy Holiday Greenery



Hard to believe Christmas is right around the corner! We're loving these simple, beautiful ways to add some fresh green holiday cheer to your home as you get ready to host family and friends. Above - wreaths on holiday windows. We also like the idea of just using one or two wreaths.


Love the natural, organic feel of unadorned greens.


Mini trees in simple pots are adorable.


And two little flocked bedside trees to make your room feel like a winter wonderland.

Wishing you a happy holiday time and a very Merry Christmas!

(via Becki Owens)

Look of the Week: Spooky (not scary) Halloween Decor



This week we're sharing a few fun ideas for Halloween that will give you the chills without being too scary for the little ones. We are also including some highly creative kids' costumes at the bottom of this post! (Above, spider infestation - tutorial here.)

Skeletons scaling your house - always a great choice.

Yard monsters! Silly and kid friendly. Tutorial here.

Spiders crawling about... ick.

Rats scurrying... super ick.

Floating witches hats!

Ring-around-the-rosie ghosties (tutorial here).

And certainly not real estate related, but we couldn't resist - such creativity! Amazing kids' costumes:

Bag ladies!

Too much farm cute.

Of course!

Lebowski.
Yes!!!

Have a wonderful October weekend :)

(Image credits as noted and via Pinterest)

October 13, 2017


Look of the Week: First Day of Fall


Happy first day of fall! We're sharing some pretty homes, spaces, and ideas to get you in an autumn mood.
  

Rosy pumpkins.

 Pretty branches.

 White on white.
Pale, stacked pumpkins.
Apple votives.



Crunchy leaves!!! 

Have a crisp fall weekend.

(Images via Pinterest)

Sept 22, 2017

Just Listed: Luxe Utility, West of Market




$1,428,000  MLS No.1162395 Status: SOLD

732 16th Ave W
MAIN HOUSE 3 BED, 2.25 BATH
DETACHED ADU 1 BED (STUDIO) or  BONUS, 1 BATH
LUSH YARD + PATIO
YEAR BUILT 2017*
2-CAR GARAGE
LOT SIZE 3864
*DETACHED GARAGE + ADU - newly built 2017;
MAIN HOUSE - Major Addition/Remodel 2017

Luxe Utility, West of Market. Honoring simplicity and function through a carefully curated lens, with an eye to detail, quality, and design; utilitarianism reimagined. 4 bed, 3.25 bath, including detached legal ADU. 2 car garage, snippets of Lake Washington. 5” site-finished solid white oak floors, Carrara marble, snowy quartz, and ravishing solid hickory cabinets. Vaulted ceilings, airy master suite with walk in closet and gas fireplace. Sleepy location with mature trees and nearby parks. Clean custom steel work, raw clear cedar channel, a personality that is unadorned and pure. An understated, streamlined aesthetic; Minimalism made gracious and warm, welcoming.
































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